Those will tell you basically everything you need to know. Pay attention to the locations of things you're going to bid on, as the Market does not teleport things to your location. They stay where they are, and you may not be able to access their location.

You find the product you're interested in and set a bid in what is effectively a "Silent Auction" (unless the auction has ended without any bids, in which case you can buy the item outright). Once the auction ends, whoever bid the most has those credits withdrawn from their account (unless they do not have enough credits - then the next highest bidder wins) and ownership is madeover to them.